Today I received the Management Tip of the Day from Harvard Business Publishing and wanted to pass it along.
— MANAGEMENT TIP: FEBRUARY 18, 2010 —
Stop Ignoring Growth Opportunities
Chances are that someone inside your organization has a great idea for how to grow your company. Kodak long ignored an engineer’s idea for a “filmless camera” (aka a digital camera) because it was in the business of selling film. The largest growth opportunities are often the market-changing ideas that not only represent growth, but a threat to your business as well. Figure out what those threats are before someone else does.
Ask yourself what could put you out of business? The answer to that question may be your biggest source of innovation.